Daisy to consider further purchases in 2010

8 Dec 2009

UK telco Daisy Group has indicated that it expects to make a number of further acquisitions in 2010, having already picked up a number of small British companies since its listing on the Alternative Investment Market in July 2009. According to the Financial Times, Matthew Riley, Daisy’s chief executive, said: ‘We are continuing to assess further opportunities to grow market share through acquisition,’ adding that there were a number of options available to it, including unnamed entrepreneur-led businesses and companies backed by private equity. According to TeleGeography’s GlobalComms database, in the latter six months of 2009 alone Daisy bought out four operators – AT Communication, Eurotel and Redstone Telecom, along with the latter’s wholly owned subsidiary Symphony Holdings.

In addition, Daisy has also claimed that it is set to meet expectations for the financial year to March 2011, with revenues likely to reach GBP225 million (USD369 million) in that twelve-month period, while underlying profit is expected to be GBP37 million.

United Kingdom, Daisy Group